KFG Wealth Management LLC Sells 51 Shares of Illinois Tool Works Inc. (NYSE:ITW)

KFG Wealth Management LLC cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,084 shares of the industrial products company’s stock after selling 51 shares during the quarter. KFG Wealth Management LLC’s holdings in Illinois Tool Works were worth $284,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ITW. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works during the fourth quarter worth about $28,000. Bruce G. Allen Investments LLC acquired a new stake in Illinois Tool Works during the fourth quarter worth about $29,000. Finally, Rakuten Securities Inc. acquired a new stake in Illinois Tool Works during the fourth quarter worth about $29,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ITW shares. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Citigroup raised their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $257.00.

Illinois Tool Works Trading Up 0.7 %

NYSE ITW traded up $1.63 during trading hours on Friday, reaching $250.46. The company’s stock had a trading volume of 2,095,046 shares, compared to its average volume of 1,254,388. The firm has a fifty day simple moving average of $260.64 and a 200-day simple moving average of $250.65. The stock has a market cap of $74.82 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.67 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $2.34 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Insiders Place Their Bets

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at approximately $56,321,252.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is currently owned by insiders.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.